The Supreme Court, in a ruling dated June 8, 2023, interprets that in case of simulation, the basis of the penalty will be the difference between the amount not paid by the individual and the amount paid by the simulated special purpose vehicle, in relation to the same income. Thus, the Supreme Court confirms the… Continue reading Tax Advisor: The Supreme Court establishes that the basis of the penalty will be the difference between the amount not paid by the individual and the amount paid by the simulated special purpose vehicle.
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Tag: Europe
Tax advisor: Is the ISD kinship reduction applicable in the consolidation of the domain if the self-assessment for the inheritance that gave rise to the dismemberment was not filed and the debt is time-barred?
The liquidation office issued a complementary liquidation due to the fact that the self-assessment for the consolidation of the domain was made applying a reduction that was not appropriate. According to them, no reduction should have been applied at the time of acquisition of the bare ownership, since it would have been consumed in the… Continue reading Tax advisor: Is the ISD kinship reduction applicable in the consolidation of the domain if the self-assessment for the inheritance that gave rise to the dismemberment was not filed and the debt is time-barred?
Tax advisor: What is the last day of the four-year statute of limitations when such day falls on a non-working day?
In the present appeal, it is noted that four years and two days elapsed between March 3, 2014, the date on which the allegations were filed with the TEAC, and March 5, 2018, when the appellant was notified of the TEAC’s resolution. According to Article 66 of the LGT, this period of time would complete… Continue reading Tax advisor: What is the last day of the four-year statute of limitations when such day falls on a non-working day?
Tax Advisor: Is it valid to deduct an expense incorrectly accounted for in a year subsequent to that of its accrual, according to the accounting rules, if the year in which the accrual occurred is already time-barred?
The lower court holds that the tax authorities allow the deduction of an expense accrued in a previous year in a subsequent year, as long as the year in which the accrual occurred is not time-barred, considering the statute of limitations as from the deadline for filing the tax return of the year in which… Continue reading Tax Advisor: Is it valid to deduct an expense incorrectly accounted for in a year subsequent to that of its accrual, according to the accounting rules, if the year in which the accrual occurred is already time-barred?
Tax Advisor: Is it required to increase the global reserves of an entity to be able to apply the reduction of the taxable base of the Corporate Tax, as a depletion factor, in the case of mining regime?
The challenged ruling concluded that, according to the applicable precept, it is a necessary requirement to increase the entity’s reserve accounts by the same amount that the taxable income was reduced. Therefore, the claimant’s argument that there is no legal requirement in this regard is not accepted. The Administration has not considered any other benefit… Continue reading Tax Advisor: Is it required to increase the global reserves of an entity to be able to apply the reduction of the taxable base of the Corporate Tax, as a depletion factor, in the case of mining regime?
Tax advisor: The Supreme Court rules on the basis for the penalty of art. 191 of the General Tax Act in related transactions
The Supreme Court has established jurisprudence through the recent ruling number 744/2023, issued on June 6. In this ruling, the Supreme Court has addressed the issue of the determination of the penalty for the infringement described in article 191 of the General Tax Act. This infringement refers to the omission of the total or partial… Continue reading Tax advisor: The Supreme Court rules on the basis for the penalty of art. 191 of the General Tax Act in related transactions
Tax advisor: RDL 5/2023: Tax measures as a result of the economic repercussions of the war in Ukraine
The Royal Decree-Law 5/2023, published in the BOE on June 29, 2023, contains tax measures in response to the war in Ukraine, support for the reconstruction of the island of La Palma and other situations of vulnerability. Highlights include the extension of tax rates in the value added tax, new deductions in the income tax… Continue reading Tax advisor: RDL 5/2023: Tax measures as a result of the economic repercussions of the war in Ukraine
Tax advisor: New VAT obligations for payment service providers to be introduced from 2024 onwards
As of July 1, 2021, Value Added Tax (VAT) regulations related to the taxation of e-commerce transactions were implemented in compliance with the transposition into Spanish law of Directive 2017/2455. This regulation introduced a notional provision according to which, when certain online deliveries of goods are made through a digital platform, the platform itself is… Continue reading Tax advisor: New VAT obligations for payment service providers to be introduced from 2024 onwards
Tax Advisor: Corporate Income Tax Benefits in 2023
In this article we will define some of the main tax benefits of the Corporate Tax in 2023, mostly focused on emerging companies. Any citizen should be aware of all these novelties at the time of filing the tax return. Law 31/2022 of the General State Budget has introduced an important novelty in the Corporate… Continue reading Tax Advisor: Corporate Income Tax Benefits in 2023
Tax advisor: Income from movable capital in kind derived from a related entity
Income in kind from movable capital that an individual receives as compensation for a related party transaction must be assessed in accordance with corporate income tax rules. An entity in which two natural person partners have a 50% shareholding assumes several personal expenses of such partners, such as those related to boats, vehicles, real estate… Continue reading Tax advisor: Income from movable capital in kind derived from a related entity